Former Congressman Leach Accepts Harvard Position
Citizen Jim Leach is a new True Believer in Red Sox baseball. Attending his first game ever at Fenway last week, he cheered on a Red Sox victory during the American League playoff sweep over Anaheim. The new found love for the Boston baseball team and a new job in a new town are just some of the changes for the 15-term congressman from eastern Iowa.
Last month, Leach accepted an academic year appointment as Director of Harvard’s Institute of Politics (IOP) at the John F. Kennedy School of Government. He secured a leave from Princeton University, where he was the John L. Weinberg Visiting Professor of Public and International Affairs at the Woodrow Wilson School. His new office overlooks the cobble-stoned JFK street in Cambridge, Massachusetts.
The office is classic Jim Leach; bookshelves filled with thick tomes and paper stacks piled high on his desk. A silver-framed picture of wife Deba on a credenza. A worn University of Iowa ball cap lays on his office table.
“I am the least disappointed loser in modern times,” he says about his November 2006 election defeat. “I think 30 years was not only enough but was probably too long to serve in congress. But, I am incredibly appreciative for the opportunity to have done so and to have done so during a period of great historical change.”
Leach is now ready for the challenge of imparting his experience to a new generation of leaders. The IOP Mission is to teach the importance of politics and public service to young people. The former congressman reports that the move from elected leader to academia has been easy. “In my case there have been very few transitions that I can think of to other jobs that I felt more comfortable doing,” confides Leach.
“The advantage of the college setting is that one has time to think issues through to a greater extent than in politics. Politics make contemplation virtually impossible.
“It seemed to me that the demands of being a congressman increased by three percent to five percent per year. So, over 30 years the pop-ins, committee meetings, floor happenings, and such make management of time very challenging,” Leach reports.
One area where Mr. Leach has growing concern is how the credit crunch is eroding confidence, both in the United States and abroad, in our economy. Up front, Jim Leach says he doesn’t know where the credit crunch or economy will be in three months. He also sees traditional, regulated lending institutions, banks and thrifts, as being on very solid lending ground.
However, at the Iowa Bankers Association annual convention last month, he sounded the alarm of a crunch in confidence. He believes that confidence has been jolted (his word) in international markets.
Leach says the prospect of a global recession has increased substantially. “The possibility of a world-wide trauma is more than slight. Maybe not 50-50, but the prospects have increased.”
He bases his skepticism on a multitude of challenges—subprime lending and over-leveraging by some, the war in Iraq, a concern over Iran and other rogue nations, the possibility of another terrorist attack—facing the U.S. “And people always, always underestimate the importance of confidence in institutions and leaders,” he warns.
Back in his second floor office, confidence in the new IOP director is high. He is a distinguished public servant who modernized banking by writing the Gramm-Leach-Bliley law. Over more than a quarter of a century, his U.S. House colleagues would call him “professor” because of his vast understanding of international relations and financial issues. And on this day, he’s chatting with Kennedy School staff about the important topical issues including who might win the Iowa Caucuses, where interest rates are headed, how quickly Curt Schilling and the Red Sox can win another World Series, and most consequently, how soon Kirk Ferentz and the Iowa Hawkeyes can return to winning ways.
50-Year Banker Luncheon at the IBA Annual Convention
Each year, the IBA has the opportunity to honor those who have shaped our industry. These are the people who have strengthened the banking industry and have shaped today’s leaders. Without their influence and vision, the industry could not be what it has become today.
Those recognized for 50 years of service to the banking industry at the recent IBA Convention were, Sue Goeldner, Bill Logan, Paul Johnson, Norma Skinner, Forest Matherly, and Harland Libersky.
They join an important group of bankers, both past and present who have demonstrated an uncommon commitment to their industry and community.
Since these bankers began their careers in the banking industry, many things have changed. New technologies have emerged bringing with them their own set of challenges. However, many things have stayed the same; Iowa bankers are still dedicated to working to better their communities by being positive, active participants. The 50-year bankers exemplify the spirit of Iowa banking. If you know a banker who has served the industry for 50 years or more, contact the IBA’s Claudia Ross at 800.532.1423 or email cross@iowabankers.com so the industry can properly recognize their service.
CUTLINEL Six bankers were inducted as 50-Year Bankers at the 2007 IBA Convention. Those present were (l) Bill Logan, Norma Skinner and Paul Johnson.
Community Bankers Day Tailgate
The 2007 Community Bankers Day Tailgate was a success again thanks to the many sponsor and bankers who attended the tailgate at the Iowa State vs. Iowa Football game on September 15 in Ames. There was a great turnout. The event would not have been possible without the support of the many generous event sponsors. Click here to view photos.
Cutline: Front row: Dave McEvoy, ECI Web Equity Manager; Sue Knoll, Ruan Securities; Scott Stevenson, Ruan Securities. Second Row: Jeanne Speas, Bankers’ Bank; Rose Davis, Bankers’ Bank; Lori Rew, ECI Web Equity Manager; Marty Trepp, UMB; Jeff Palmer, US Bank. Third Row: Gene Frey, Midwest Independent Bank; Clay Boatman, Midwest Independent Bank; Jennifer Newlin & Halle, Martin & Associates Professional Recruiters.
Attend the 2007 National Conference for Community Bankers
Searching for solutions that don’t leave you wanting more? Look no further than the 2008 National Conference for Community Bankers: “Ideas that Deliver: Take-Away Solutions for Your Community Bank.”
The conference will take place February 17-20, 2008, at the JW Marriott Orlando, Grande Lakes Resort & Spa in Orlando, Florida.
Designed by bankers for bankers, this program offers insights and information that you can put to work immediately:
• Inspiring speakers: Former White House press secretary, Tony Snow, best-selling business author Patrick Lencioni, “The CEO Dad” - aka Tom Stern - and author of “The Number,” Lee Eisenberg.
• In-depth sessions on hot topics and industry trends.
• Unparalleled networking opportunities.
Register online at www.aba.com. Additional information is also available online at www.iowabankers.com.
BUILD UPDATE
Thank you to the following banks who have contributed to BUILD August 17 through October 11.
First State Bank, Belmond
Gateway State Bank, Clinton
First Trust & Savings Bank, Coralville*
Dubuque Bank & Trust Company, Dubuque
Fidelity Bank & Trust, Dyersville*
Hills Bank & Trust Company, Hills
State Central Bank, Keokuk*
Farmers Savings Bank, Keota
Citizens State Bank, Monticello
First State Bank, Riceville*
First National Bank, Waverly*
Union State Bank, Winterset
* Indicates bank goal was met.
Thank you for your support of the industry PAC!
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